Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has strengthened the skillset of its Board of Directors through the appointment of Park (Zuliang) Wei as a non-executive director, effective today.
Wei, a Chinese-born Australian entrepreneur, has been a strategic advisor to Lindian for the past year and also has a substantial shareholding in the company.
He has multiple investments in the property, mining and finance sectors in Australia and other international markets. He holds a Bachelor of Arts Degree from Nanjing University, one of China’s top five universities.
In 1994, he founded Top Pacific Group, which is today a diversified property group engaged in property development, construction, property financing, sales and strata management.
“Complements skills”
Executive chairman Asimwe Kabunga commented: “On behalf of the board, I would like to welcome Park as a director of the company.
"He has been a significant investor and supportive shareholder who has been instrumental in attracting like-minded and large, committed shareholders to our register.
"He complements the skills of the current board members very favourably and we are pleased that he will continue to support Lindian’s growth and development as a director.”
Since 2019, Wei has been the chairman and major shareholder of wholesale fund manager PAN Australia Fund Management Pty Ltd (PAFM), formerly Boill Fund Management Pty Ltd.
He successfully helped fund Jatcorp Limited and its acquisition of Australian dairy company ANMA.
An “exciting time”
The new non-executive director said: “I am delighted to be joining the Board of Lindian at such an exciting time in the company’s history.
"I have invested in Lindian because of the high quality of its assets, most notably the Kangankunde Rare Earths Project in Malawi, and the bauxite projects in Guinea which are of significant scale and hold considerable unlocked value.
"I have been actively assisting Lindian in accelerating the development of the bauxite projects and the proposed Stage 1 processing plant at Kangankunde, and as a director of the company, I will continue to work with the board and the management team by providing relevant introductions and commercial assistance with respect to offtake agreements and project financing.
"Lindian is a rare and very unique value proposition and I look forward to helping deliver more value to our fellow shareholders,” Wei added.
Kangankunde progress
Lindian says that that it is making good progress advancing the Stage 1 processing plant at the Kangankunde Rare Earths Project in Malawi and will provide an update this week on the status of its current work streams.
READ: Lindian Resources inks MoU with Compagnie des Bauxites de Guinée for potential bauxite supply deal